Arecor Ltd, the privately-owned biopharmaceutical company advancing therapies to enable healthier lives, said it has achieved an important second, contractual milestone with one of its pharmaceutical partners.
The first milestone was triggered in October 2017 following the signature of a license agreement between the parties.
In accordance with the license agreement, the partner has rights to further develop, manufacture and commercialise a novel, superior formulation of a biosimilar product, which was developed by Arecor using its proprietary Arestat platform.
The novel, stable liquid formulation has met agreed intellectual property and improved thermostability specifications for both intravenous (IV) and subcutaneous (SC) presentations.
Under the terms of the exclusive global, royalty-bearing license, a second milestone payment has been duly triggered.
It is expected that the partner will now initiate final pivotal studies in order to further progress the product towards commercialisation, which could result in future milestone and royalty payments.
Sarah Howell, Arecor’s chief executive officer commented: "The achievement of this second license milestone with our valued partner is an important testament of our ability to develop differentiated formulations of existing products that meet clinical and regulatory requirements. Here, we have used Arestat to deliver a superior formulation of a biosimilar product. In doing so, not only are we able to help our pharmaceutical partner to differentiate their product in this highly competitive space, but we further our ultimate goal of supporting patients to gain access to superior and affordable therapeutic treatment options."
Arestat is a world-leading, innovative and proprietary formulation technology platform which significantly enhances the properties of therapeutic proteins and peptides. It has the unique potential to deliver superior reformulations of existing products which would otherwise not be possible.